7/19/2021 Watchlist Charts
7/19 Monday Watchlist
$ZM – Closed around $362 on Friday. Over the weekend, announced acquisition of Five9 for $14.7B in all-stock deal, representing $200.28 share price. If it rallies Monday morning, look to see levels at $368/$373. Otherwise, look for $354 to hold or ZM could fall back down towards $345 support.
$NVDA – After the market sectors hit all time highs and began pulling back, NVDA came down with them. NVDA will begin trading on 4-for-1 split-adjusted basis on Tuesday, 7/20. If the $725 level cannot hold, look for potential continuation down towards the 50 moving average (and psychological support) of $700, and $690 below that.
$MU – Micron Technology has also seen a decline in share price, steadily forming a downtrending channel. Shares dropped just below $75 on Friday, hovering on a level of support and on the lower end of the trend line. At the beginning of July, banks (such as Morgan Stanley) gave MU price targets all above $100. If this level can hold, look for a potential bounce back towards the 50 moving average around $80. Below can see movement towards $70 range.
$MRNA – Moderna broke to all time highs after the announcement of inclusion in the S&P 500. If this strong momentum continues, look for $289 to break for it to move towards the $300 psychological level. Otherwise, if it breaks below $282, look for a potential drop back towards the $270 range.